Kikkoman - Public Comps and Valuation Multiples

Kikkoman Overview

About Kikkoman

Kikkoman was founded in 1917 following the merger of eight family-owned companies in Noda, Chiba Prefecture, Japan. It is the largest soy sauce manufacturer in Japan and the US Domestically, it sells a broad range of food and beverage products including but not limited to soy sauce, soy milk, licensed Del Monte products, and liquor. Kikkoman’s products are shipped to over 100 countries with eight global production plants across the US, Asia, Europe, and South America. Apart from food manufacturing, Kikkoman also operates a wholesale business segment that resells Asian foods globally.

Founded

1917

HQ

Employees

8.2K+

Website

kikkoman.co.jp

Sectors

Food & Beverages

Financials

LTM Revenue $4.9B

LTM EBITDA $692M

EV

$7.8B

Valuation Multiples

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Kikkoman Financials

As of August 2025, Kikkoman reported last 12-month revenue of $4.9B and EBITDA of $692M.

In the same period, Kikkoman achieved $409M in LTM net income.

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Kikkoman P&L

In the most recent fiscal year, Kikkoman reported revenue of $4.8B and EBITDA of $764M.

Kikkoman expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$4.9B	XXX	$4.8B	XXX	XXX	XXX
Gross Profit	n/a	XXX	$1.6B	XXX	XXX	XXX
Gross Margin	n/a	XXX	34%	XXX	XXX	XXX
EBITDA	$692M	XXX	$764M	XXX	XXX	XXX
EBITDA Margin	14%	XXX	16%	XXX	XXX	XXX
EBIT	$514M	XXX	$500M	XXX	XXX	XXX
EBIT Margin	11%	XXX	10%	XXX	XXX	XXX
Net Profit	$409M	XXX	$419M	XXX	XXX	XXX
Net Margin	8%	XXX	9%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Kikkoman including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $4.9B. EBITDA for the last twelve months was $692M. In the most recent fiscal year, Kikkoman achieved $4.8B in revenue and $764M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$4.9B	Analyst estimates available to subscribers	$4.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$1.6B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	33.7% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$692M	Analyst estimates available to subscribers	$764M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	14.3% EBITDA margin	Analyst estimates available to subscribers	15.9% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$514M	Analyst estimates available to subscribers	$500M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	10.6% EBIT margin	Analyst estimates available to subscribers	10.4% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$409M	Analyst estimates available to subscribers	$419M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	8.4% net profit margin	Analyst estimates available to subscribers	8.7% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Kikkoman

This financial data table provides comprehensive performance metrics for Kikkoman, a company based in Japan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Kikkoman generated $4.9B in revenue over the last twelve months.
The company achieved $692M in EBITDA over the last twelve months.
Net income over the last twelve months reached $409M.

Fiscal Year Performance

In the most recent fiscal year, Kikkoman reported $4.8B in total revenue.
Fiscal year EBITDA was $764M.
The company maintained a gross profit margin of 33.7% in the most recent fiscal year.
EBITDA margin for the fiscal year was 15.9%.
Net profit margin reached 8.7% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Kikkoman. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Kikkoman Stock Performance

Kikkoman has current market cap of JPY 1.22T (or $8.3B), and EV of JPY 1.16T (or $7.8B).

Market Cap Evolution

Kikkoman Stock Data

As of September 12, 2025, Kikkoman's stock price is JPY 1299 (or $9).

See Kikkoman trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$7.8B	$8.3B	XXX	XXX	XXX	XXX	$0.43

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Kikkoman Valuation Multiples

Kikkoman's trades at 1.7x EV/Revenue multiple, and 10.4x EV/EBITDA.

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Kikkoman Financial Valuation Multiples

As of September 12, 2025, Kikkoman has market cap of $8.3B and EV of $7.8B.

Equity research analysts estimate Kikkoman's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Kikkoman has a P/E ratio of 20.2x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$8.3B	XXX	$8.3B	XXX	XXX	XXX
EV (current)	$7.8B	XXX	$7.8B	XXX	XXX	XXX
EV/Revenue	1.6x	XXX	1.7x	XXX	XXX	XXX
EV/EBITDA	11.3x	XXX	10.4x	XXX	XXX	XXX
EV/EBIT	15.2x	XXX	16.1x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	20.2x	XXX	20.2x	XXX	XXX	XXX
EV/FCF	37.4x	XXX	30.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Kikkoman Margins & Growth Rates

Kikkoman's last 12 month revenue growth is 3%

Kikkoman's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.1M for the same period.

Kikkoman's rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Kikkoman's rule of X is 23% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Kikkoman Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	3%	XXX	4%	XXX	XXX	XXX
EBITDA Margin	14%	XXX	16%	XXX	XXX	XXX
EBITDA Growth	3%	XXX	-2%	XXX	XXX	XXX
Rule of 40	19%	XXX	19%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	23%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.6M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	23%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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